The La La Land star earned $26m (around £20m) over a 12-month period from June 2016 to June 2017, mainly due to the success of the Hollywood musical.
That puts her at the top of Forbes magazine's annual list, beating the likes of Jennifer Anniston and Emma Watson.
Jennifer Lawrence, who topped the list in 2016, came third with earnings of $24m (£19m).
Emma's earnings increased by 160% on 2016, when she made $10m (£8m).
Jennifer Lawrence has topped the Forbes list for the past two years, mainly because of her earnings from the Hunger Games franchise.
In 2016 she made $46m (£36m), after the release of The Hunger Games: Mockingjay - Part 2, the last in the series.